HomeMy Public PortalAbout2000_08_08_r160The Town of
eesburg,
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PRESENTED August 8, 2000
RESOLUTION NO. 2000-160 ADOPTED August 8, 2000
A RESOLUTION: AUTHORIZING AGREEMENTS AND APPROVING SUBSTITUTE
PERFORMANCE GUARANTEES FOR POTOMAC STATION
SECTIONS 8D, 8E, AND 8F AND RELEASING THE CORPORATE
SURETY BONDS FROM ENGLE HOMES/VIRGINIA, INC. &
GOOSE CREEK COMMUNITIES, L.L.C..
WHEREAS, Council Resolution #2000-61 approved a corporate surety bonds from the
Reliance Insurance Company in the amount of $213,835.00 for Section SD; $231,854.00 for
Section SE; and $557,837.00 for Section 8F as security to guarantee installation of public
improvements by Engle Homes/Virginia, Inc. and Goose Creek Communities, L.L.C., as shown
on plans approved by the Director of Engineering and Public Works for Potomac Station; and
WHEREAS, Washington Homes, Inc., new owner of Potomac Station Sections 8D, 8E,
and 8F has requested to replace the previously approved corporate surety bonds with corporate
surety bonds from The Hanover Insurance Company and is requesting approval of same; and
WHEREAS, the Director of Engineering and Public Works recommends approval of a
contract and acceptance of the corporate surety bonds from The Hanover Insurance Company.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The manager shall execute contracts for public improvements with
Washington Homes, Inc., for the improvements shown on plans approved by the Director of
Engineering and Public Works for Potomac Station Sections SD, 8E, and BF.
A RESOLUTION:
-2-
AUTHORIZING AGREEMENTS AND APPROVING SUBSTITUTE
PERFORMANCE GUARANTEES FOR POTOMAC STATION
SECTIONS 8D, 8E, AND 8F AND RELEASING THE CORPORATE
SURETY BONDS FROM ENGLE HOMES/VIRGINIA, INC. & GOOSE
CREEK COMMUNITIES, L.L.C.
SECTION II. The substitute corporate surety bonds from The Hanover Insurance
Company provided by Washington Homes, Inc., in the amounts of $213,835.00 for Potomac
Station 8D; $231,854.00 for 8E; and $557,837.00 for 8F in a form approved by the Town
Attorney is approved.
SECTION III. The corporate surety bonds from the Reliance Insurance Company
provided by Engle Homes/Virginia, Inc. and Goose Creek Communities, L.L.C., in the amounts
listed in Section II are released contingent upon approval by the Town Attorney of the substitute
corporate surety bond from The Hanover Insurance Company provided by Washington Homes,
Inc.
PASSED this 8th day of August 2000.
Crk of Council
B.J.-~bb, Mayor
Town of Leesburg
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